Lightning is not a magic incantation!! "A common chant from many in this space these days in response to any discussion of changes to the #bitcoin protocol is “Don’t mess with Layer 1! You can just build it on Layer 2!” BUT “If we stop changing #bitcoin right now there is no way that even 1% of 1% of the planet will be able to afford to actually hold their own keys, to actually sovereignly control their own bitcoin, and everybody else it’s just pick your custodian, pick who you trust to hold your bitcoin for you.” BECAUSE "An L2 protocol is an extension of the L1. Everything that an L2 is designed to do must ultimately reduce down to what the L1 is capable of" - Shinobi
https://www.youtube.com/watch?v=seOK8CujQQI
https://bitcoinmagazine.com/technical/layer-2-is-not-a-magic-incantation
The same considerations made by Shinobi are valid in my opinion for a much needed technical development which mixes by default at L1 protocol level all UTXOs to close the most dangerous loophole which today enables governments to coerce miners into censoring transactions. IF CENSORSHIP RESISTANCE GOES DOWN THE TOILET They will have succeded in neutralizing #bitcoins potential as a global currency and reduced it to just another "banksters coopted and controlled" store of value/financial instrument. Bye bye monetary freedom for billions of people.
#bitcoin #crypto #censorship
Andre Leblanc
npub1j6…wrawp
2024-02-28 10:48:50
Author Public Key
npub1j6unpgavq0alkq5fpncx8z0hx2dkyfh6f40dmgezfcvkw9nw7rpqawrawpPublished at
2024-02-28 10:48:50Event JSON
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"content": "Lightning is not a magic incantation!! \"A common chant from many in this space these days in response to any discussion of changes to the #bitcoin protocol is “Don’t mess with Layer 1! You can just build it on Layer 2!” BUT “If we stop changing #bitcoin right now there is no way that even 1% of 1% of the planet will be able to afford to actually hold their own keys, to actually sovereignly control their own bitcoin, and everybody else it’s just pick your custodian, pick who you trust to hold your bitcoin for you.” BECAUSE \"An L2 protocol is an extension of the L1. Everything that an L2 is designed to do must ultimately reduce down to what the L1 is capable of\" - Shinobi\nhttps://www.youtube.com/watch?v=seOK8CujQQI\n\nhttps://bitcoinmagazine.com/technical/layer-2-is-not-a-magic-incantation\nThe same considerations made by Shinobi are valid in my opinion for a much needed technical development which mixes by default at L1 protocol level all UTXOs to close the most dangerous loophole which today enables governments to coerce miners into censoring transactions. IF CENSORSHIP RESISTANCE GOES DOWN THE TOILET They will have succeded in neutralizing #bitcoins potential as a global currency and reduced it to just another \"banksters coopted and controlled\" store of value/financial instrument. Bye bye monetary freedom for billions of people.\n#bitcoin #crypto #censorship",
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